A hospital consists of various assets including devices, medications and people. For a hospital to operate efficiently, proper management of these assets is very crucial and it demands for efficient hospital asset management. Generally, hospital & beside equipment includes hospital beds & supplies, patient monitoring & bedside monitoring systems, cardiac & dialysis devices and other medical devices. Other medical devices include defibrillators, foetal, temperature & paediatric monitor, incubators, gastrointestinal & sterilization machines, insulin pumps, stethoscope, among others.
Demand of healthcare asset management system is deemed to grow in future due to increasing concern of patient safety, rising need for hospital productivity, technological advancements and better affordability of systems. Hospital asset management system market generally consists of various technologies such as ultrasound, infrared, radio frequency identification (RFID) and the latest Wi-Fi based real-time location system (RTLS). Of these, RFID is mostly being implemented in pharmaceutical sector whereas RTLS in patient monitoring systems.
Developments in patient monitoring system is expected to propel growth of hospital & beside equipment. Neuromonitors, respiratory monitors and remote patient monitoring (RPM) devices are the segments which are expected to witness high investments, thereby fuelling future growth in the market. In addition, multi-parameter monitors and capnograhy segments are the other ones which also look promising. With increased implementation of internet-of-things (IoT), patients are increasingly preferring devices with high connectivity. However, higher costs related to IoT enabled devices and RPMs are can restrict the growth of the segment.
Another area which has witnessed high growth in the past years with promising future potential is hospital beds. With technological advancements, major manufacturers are focusing on development of fully-electric and motorized beds for critical, surgical and acute care requirements. Although, the segment shows promising future, affordability remains a concern, especially in developing and under-developed economies.
Overall, the global hospital & beside equipment market is expected to grow rapidly in the near future with growing geriatric population and increasing healthcare expenditure.
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